The property that is part of Baldwin Park Towne Center has a total of 13 tenants including Verizon, AT&T, Gamestop and Fantastic Sams.

Baldwin Park, Calif. — The closing cap rate of the property, built in 1987, was 5.9 percent.

Faris Lee Investments has arranged the $12.7 million sale of a fully occupied, 24,262-square-foot, multi-tenant, retail property in Baldwin Park, California. The property has a total of 13 tenants including Verizon, AT&T, Gamestop and Fantastic Sams. It is part of Baldwin Park Towne Center, a larger regional retail development that is anchored by Home Depot along with other national tenants that include McDonald’s, Denny’s, Starbucks and a 178-room Marriott Courtyard Hotel. Rick Chichester, Matt Mousavi, and Tom Chichester represented the seller, Los Angeles-based Gershman Properties LLC. The buyer, Baldwin Park Plaza 11 LP of Colorado, was represented by Newmark Grubb Knight Frank.

Much of the spotlight surrounding in-demand tenants at today's shopping centers is focused on food and beverage and entertainment users.
This is a solid strategy, agrees Steven Maksin, founder and CEO…